- Most European stocks slid on Monday amid losses across most sectors, with German bank and real estate shares drawing investor attention as did European suppliers of U.S. planemaker Boeing following a production cut announced late on Friday.
“In light of the strong rally and the multi-month highs that were achieved in European indices recently, some investors are now taking a breather,” David Madden, a market analyst at CMC Markets UK, wrote in a note. France’s Safran SA slid 2 percent as Boeing Co revealed a plan to cut 737 aircraft production by nearly a fifth.Melrose Industries , another supplier to Boeing, slid 2 percent, while Meggitt recouped early losses to end 0.2 percent higher.Real estate stocks fell 1.3 percent with Deutsche Wohnen dropping 3.1 percent following protests over the weekend demanding expropriation of apartments in Berlin that have been sold off to big private landlords.
Software firm SAP dropped as much as 2.2 percent after it said the head of its cloud business group had quit, but regained some ground to close 0.6 percent lower. Daimler ended little changed. The German auto giant had been weighed down by the prospect of potentially hefty fines after EU antitrust regulators charged the firm along with Volkswagen and BMW with colluding to block the rollout of clean emissions technology.
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